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. >> they both worked to close the deficit. because we have the lowest tax rates over the last decade or so. in this nations history. >> it is. >> okay, let's start off with the administration wants it both ways. they have a low deficit, but at the same time they want to talk about sequester and how it's bad for the economy because they want to be spending more money. we have these big government policies trying to stimulate the economy. spending billions and billions of dollars getting us to the same point that we were a few years ago and we had 37,000 drop out of this rate alone. this is going to change. >> but one in our history was that the case? >> because nobody is working. because the economy is shrinking. it is doing nothing for the families and no one is working. >> it's not shrinking. it hasn't been shrinking. >> you're right, and that is okay. charles: we are talkinn about countries that accept as 20 years before we did. it actually might be a great warning for us but you get the last word. >> yes, the economy is in
. >> they both worked to close the deficit. because we have the lowest tax rates over the last decade or so. in this nations history. >> it is. >> okay, let's start off with the administration wants it both ways. they have a low deficit, but at the same time they want to talk about sequester and how it's bad for the economy because they want to be spending more money. we have these big government policies trying to stimulate the economy. spending billions and billions of...
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Jan 14, 2013
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the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the speaker has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure we are reducing the health care spending, the main driver of the deficit, we can arrive at a package to get this thing done. i am happy to have that conversation. what i will not do is to have that that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you have medicare or medicaid or otherwise/things that the american people do not believe should be slashed that we will threatened to wreck the entire
the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the...
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Jan 17, 2013
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it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs for years. >> sharply rising health care costs are consuming an ever-larger share of this department. growing from 19 billion in 2001. >> military health care costs have gone up 300% in the past decade. 2012 was the first year since 1995 military personnel saw an increase in health care premiums. now, there are two things republicans love, the military and reducing the deficit. republican should be thrilled with the public option. how can you make a hundred billion dollar mistake? who's doing the math? will it save or won'
it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs...
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Feb 12, 2013
02/13
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he pledged to cut the deficit in half. >> yesterday i held the fiscal somewhere applies to cut the deficit in half by the end of my first term office. my administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs. gerri: did that happen? no. instead, obama average deficit of nearly three times that of his predecessor. here is another promise from 2009. >> over the next two years this plan will save or create three and a half million jobs. more than 90 percent of these jobs will be in the private sector, jobs rebuilding our roads and bridges, constructing wind turbines in solar panels, laying broadband and expanding mass transit. gerri: not a chance. instead, according to the heritage foundation, the economy is over seven and a half million jobs in the hole and don't forget obamacare. >> this budget builds on these reforms and includes an historic commitment to comprehensive health care reform, a down payment on the principle that we must have quality affordable health care for every american. [applause] it is a commit
he pledged to cut the deficit in half. >> yesterday i held the fiscal somewhere applies to cut the deficit in half by the end of my first term office. my administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs. gerri: did that happen? no. instead, obama average deficit of nearly three times that of his predecessor. here is another promise from 2009. >> over the next two years this plan will save or create...
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Jan 15, 2013
01/13
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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Sep 22, 2013
09/13
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we all want to reduce the deficit. remember this, president obama, when he became president, he said, i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction, we're all committed to that. put everything on the table, review it. but you cannot have anymore cuts just for the sake of cuts. right now you're taking trophies. >> you don't want to take entitlements. >> we don't want to sit at a table that says there's no place for social security in a civilized stoet. society. >> this isn't just the odd person out in their caucus. and by the way, by the way, the voucherizing of the medicare is in the ryan budget. medicare should wither on the vine. that is in the ryan budget. president washington said as he was leaving, he cautioned political parties at war with their own government. let me introduce you to the republican caucus in the house of representatives. not all of them, as you say, don't paint them all with the same brush, but enoug
we all want to reduce the deficit. remember this, president obama, when he became president, he said, i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction, we're all committed to that. put everything on the table, review it. but you cannot have anymore cuts just for the sake of cuts. right now you're taking trophies. >> you don't want to take entitlements. >> we don't want to sit at a table...
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Mar 6, 2013
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when we had a $300 billion deficit. and there's going to be, man, a wrecking ball going on around there through a lot of budgetary programs if you try to do it in ten years, and if you try to move the medicare age up quickly right now, that's going to be a serious problem. >> well, i think it's not just going to be a serious problem, joe. i think it's impossible. i mean, there's enough -- there's no way to get to the kind of entitlement reform that i know you believe in and i think that is a gradual -- a more gradual approach that would make fundamental changes in medicare and other entitlement programs but do it over a longer time horizon. that might be politically doable. but given the degree of opposition to making dramatic entitlement reform changes on the democratic side, you can't do this without getting somewhere where you create a coalition in the center of republicans, nonextreme republicans on the right, nonextreme democrats on the left. you've got to get in the center. and that's not a rapid change to medicar
when we had a $300 billion deficit. and there's going to be, man, a wrecking ball going on around there through a lot of budgetary programs if you try to do it in ten years, and if you try to move the medicare age up quickly right now, that's going to be a serious problem. >> well, i think it's not just going to be a serious problem, joe. i think it's impossible. i mean, there's enough -- there's no way to get to the kind of entitlement reform that i know you believe in and i think that...
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Sep 22, 2013
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we all want to reduce the deficit. remember this, president obama, when he became president, he said i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction. we're all commit the to that. put everything on the table. review it. but you cannot have any more cuts just for the sake of cuts. right now you're taking trophies. >> not entitlements. you don't want to touch entitlements. >> we want to prolong entitlements. we're not going to sit at a table for people who say social security has no place in a free society. that's what they do. >> john boehner doesn't do that. he doesn't say i i wawant to ged of social security. >> yeah they do. this isn't odd person out in the caucus. this is in the ranks of the leadership. and by the way -- by the way, voucherizing of medicare is in the ryan budget. medicare should wither on the vine. that is in the ryan budget. president washington said as he was leaving, he cautioned against political parti
we all want to reduce the deficit. remember this, president obama, when he became president, he said i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction. we're all commit the to that. put everything on the table. review it. but you cannot have any more cuts just for the sake of cuts. right now you're taking trophies. >> not entitlements. you don't want to touch entitlements. >> we want to...
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the republicans now want to talk about budgets and deficits rather than dealing with the fact that one year from this month we will have an election that will answer a lot of the questions on policy in the country's direction. >> the flaws and obamacare are becoming evident. the republicans have not put enough investment in proposing a clear alternative that will actually help people lives. for example, medicaid is going to be horrible medicine for the people did get. lou: thank you for being with us. meeting with the united nations. he's next. ♪ lou: the nfl blackout rules, my gosh, i am delighted to welcome to the broadcast tonight, a veteran sportscaster, fox news contributor, jim gray. great to see you. thank you for being with us. >> great to be with you teeseven let me start with this meeting of the issue of the redskins' name, whether are not the team name will survive all of this. your thought. >> well, the nfl did need a couple of others. the commissioner did not. the commissioner met with dan snyder a few days ago. the commissioner wants this all to go away, and it is not g
the republicans now want to talk about budgets and deficits rather than dealing with the fact that one year from this month we will have an election that will answer a lot of the questions on policy in the country's direction. >> the flaws and obamacare are becoming evident. the republicans have not put enough investment in proposing a clear alternative that will actually help people lives. for example, medicaid is going to be horrible medicine for the people did get. lou: thank you for...
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Jan 2, 2013
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let's start with deficits. if you care about deficits, was this a good deal? >> no. this was terrible if you care about the deficit. it was awful. so one thing the budget wonks are happy about is two ways to measure this deal. under one way of measuring it, you'd measure under what the law said would have if we did nothing. this deal increased deficits over ten years by about $4 trillion. the other way of measuring deficits, which is more common in washington right now, is not measuring against what the law says it's going to happen, but against where we are right now, what would have if policies, tax code, nothing changed. measuring that, this deal cut deficits by $620 billion in ten years, something in that neighborhood. either way, the current policy is closer to the truth, but now we're getting into something where we at least have a common baseline on which to discuss what we're doing from here on out, but this wasn't a big deal. i'm not sure how much deficit we need in the short term, we need more than this. but this was not enough in taxes, there were no spend
let's start with deficits. if you care about deficits, was this a good deal? >> no. this was terrible if you care about the deficit. it was awful. so one thing the budget wonks are happy about is two ways to measure this deal. under one way of measuring it, you'd measure under what the law said would have if we did nothing. this deal increased deficits over ten years by about $4 trillion. the other way of measuring deficits, which is more common in washington right now, is not measuring...
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the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the senate has not passed one commend the president of the united states said this back in 2011. november 41st. already, he said, some in congress are trying to undo these automatic spending cuts, much like he did today at 115 eastern time. my message to them back in 2011, no, i will be there through any effort to get rid of automatic spending cuts to domestic and defense spending said the break president at that point. your reaction? >> that was president obama circa 2011. candid obama in a debate set s
the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in...
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Jan 11, 2013
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that is their idea of moving toward deficit reduction. meanwhile, 1 out of 4 major corporations in this country pays zero in taxes. we lose $100 billion every single year because corporate america and wealthy individuals stash their money in the cayman islands and in other tax havens. corporations today are paying 12% of their profits in taxes, which is the lowest since 1972. in terms of corporate tax per gdp, we are lower than any other country in the oecd. >> that is just amazing. that is amazing when you throw these numbers out. and i think it brings us back to one word. americans, focus. you can hear a lot of talk about debt ceiling and deficit reduction. focus on the ideology of what has brought us to where we are right now and an ideology that has brought us here is not going to fix it in any way, shape, or form. senator, the filibuster. doesn't it really start with that? we've really got to get that fixed first. >> it is enormously important. we grew up as kids believing in america majority rules. well, we've got 100 senators. you
that is their idea of moving toward deficit reduction. meanwhile, 1 out of 4 major corporations in this country pays zero in taxes. we lose $100 billion every single year because corporate america and wealthy individuals stash their money in the cayman islands and in other tax havens. corporations today are paying 12% of their profits in taxes, which is the lowest since 1972. in terms of corporate tax per gdp, we are lower than any other country in the oecd. >> that is just amazing. that...
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Jan 3, 2013
01/13
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he wanted deficit reduction and it didn't reduce the deficit at all. he keeps seeing these things and nobody holds him accountable. and i'm proud of my colleagues who voted no. and if you took every day, 3,000 years to get to one trillion. we're spending more than 10 billion dollars a day. we have to borrow 600 million a day just to pay for the interest on the national debt, we can't do t i don't want to hear about ten year projections, i want to hear about first year cut reductions. >> sean: if you want to look at the numbers, congressman chaffetz. moody's saying this will cost 600,000 american jobs. and the price tag over a decade. there are no spending cuts here, i guess the question is over the debt ceiling we're now going to have another big argument over spending, whether there will be entitlement cuts. it steams that there's got to be a shift in strategy, that we need a party that is going to stand on this platform to save america. do you think, congress, do you think that will happen, will happen and the messaging will change? >> i know it can
he wanted deficit reduction and it didn't reduce the deficit at all. he keeps seeing these things and nobody holds him accountable. and i'm proud of my colleagues who voted no. and if you took every day, 3,000 years to get to one trillion. we're spending more than 10 billion dollars a day. we have to borrow 600 million a day just to pay for the interest on the national debt, we can't do t i don't want to hear about ten year projections, i want to hear about first year cut reductions. >>...
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. >> different ways to work, $270 billion coming in and if you get rid of the deficit spending, we can service the debt and keep parts of the government open. >> right. >> but none of it is going to be pretty. >> if it's so easy to close down agencies, why do they exist? i'll leave you with that. thanks to both of you. placing his bet on a new tablet. fittingly they are doing it in business. the head of hewlett-packard's computer business will be with me from the electronics show and why this will be different than past attempts which did not work out for hewlett-packard. up next, pays to watch the "closing bell." herb greenberg predicted price matching would be made a year-round event. herb will be around to tell us what happens next. you'll want to listen to this. stay with us. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save
. >> different ways to work, $270 billion coming in and if you get rid of the deficit spending, we can service the debt and keep parts of the government open. >> right. >> but none of it is going to be pretty. >> if it's so easy to close down agencies, why do they exist? i'll leave you with that. thanks to both of you. placing his bet on a new tablet. fittingly they are doing it in business. the head of hewlett-packard's computer business will be with me from the...
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Jan 3, 2013
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deficits have always mattered. and they matter whether they're under democratic or republican administration. they matter. and we're going to deal with it. >> but you may have agreements on that, how order, but i heard an interview this morning with nancy pelosi, on npr, and she said out this idea that if you're going to deal with these things, you do it by making sure we're looking at things like defense to cuts and things and that you're looking to rein -- she used some language, look at making sure that every federal dollar spent is worthwhile. which to me is kind of code for saying we're going to be looking at making sure we get waste out of government spending in terms of fraud and things like that. is there enough money by getting rid of the fraud to actually deal with the deficit? >> there's not enough money by getting rid of the fraud. that's, you know, the current thing that everybody has been saying for years. oh, we can balance the budget. how do you do that? waste, fraud and abuse. that's nonsense. ther
deficits have always mattered. and they matter whether they're under democratic or republican administration. they matter. and we're going to deal with it. >> but you may have agreements on that, how order, but i heard an interview this morning with nancy pelosi, on npr, and she said out this idea that if you're going to deal with these things, you do it by making sure we're looking at things like defense to cuts and things and that you're looking to rein -- she used some language, look...
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to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full budget may not be finished before march 1. unfortunately, that is the date my fear is a powerful automatic cuts also known as the silk was sure are scheduled to take effect. if congress cannot act immediately on a bigger package -- i believe they should at least pass a smaller package of spending cuts and tax reforms that would delight the damaging effects of the sequester for a few months. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to ment
to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full...
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 4, 2013
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we can put together a plan that over time actually gets this deficit down. but you can't do it month by month and threat by threat. >> congressman john garamendi, california, great to have you with us tonight. thanks so much. >> always, ed, you it. >> remember to answer tonight's question there at the bottom of the screen. share your thoughts with us on twitter @edshow and on facebook. we always want to know what you think. coming up, john boehner got a good scare today during the vote for house speaker. richard wolffe tells us what today's circus means for the country going forward. but first, today was the official swearing in day for the senate. vice president joe biden did the honors. and he also did some glad-handing with the families of senators. this is how he handled meeting republican wyoming senator john barrasso and his mother. >> hey, ma. >> hey. >> how are you? good to see you. i'm joe biden. well, i -- >> she liked cheney better. >> i'm 60 years old, so take care. watch where you're walking. >> would you take a picture of this? >> tell him. >>
we can put together a plan that over time actually gets this deficit down. but you can't do it month by month and threat by threat. >> congressman john garamendi, california, great to have you with us tonight. thanks so much. >> always, ed, you it. >> remember to answer tonight's question there at the bottom of the screen. share your thoughts with us on twitter @edshow and on facebook. we always want to know what you think. coming up, john boehner got a good scare today during...
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other piece of this that's a win for republicans is that they're even having this larger skirmish over deficits and spending, which is a republican priority and the president is arguing on republican turf right now. >> right. a lot more to cover, dana, jessica, i appreciate it. we're going to be talking to you throughout this hour, as dan ashe was just reporting. do expect the vote to occur within this hour. stay tuned for this. you can follow me on twitter also. we'll have more on the vote coming up on the fiscal cliff, on the bill, what americans and the markets think of the mess in the market. we'll be right back. you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates fo
other piece of this that's a win for republicans is that they're even having this larger skirmish over deficits and spending, which is a republican priority and the president is arguing on republican turf right now. >> right. a lot more to cover, dana, jessica, i appreciate it. we're going to be talking to you throughout this hour, as dan ashe was just reporting. do expect the vote to occur within this hour. stay tuned for this. you can follow me on twitter also. we'll have more on the...
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increasing the premiums they charge to help fund their long-term deficit. liz: show us what your talking about on this particular chart. you have the assets in the blue line. explain to people what they're looking at. >> comparing the liabilities and assets of the 100 largest defined benefit plans in the u.s. and while you see the lower lining, the assets performed well the last four years. liz: the market is done well. >> the market has done well. that has not been enough told pinching funding from reaching record deficits because interest rates have dropped and the liabilities have outpaced assets liz: is there any way for people who work in the company to find that the pension area is underfunded? >> one of the things the pension protection act requires is companies to give annual funding notice. a lot of numbers, of words, but to look at the funded percentage and compared from one year to the next intel police the and improvements in funded status. >> there are companies out there that are large and the problems. what a? >> is not as much how big the de
increasing the premiums they charge to help fund their long-term deficit. liz: show us what your talking about on this particular chart. you have the assets in the blue line. explain to people what they're looking at. >> comparing the liabilities and assets of the 100 largest defined benefit plans in the u.s. and while you see the lower lining, the assets performed well the last four years. liz: the market is done well. >> the market has done well. that has not been enough told...
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to get rid of that one thing that is bringing the deficit down. lou: most economy fifth public fiscal policy since 1980, in a time when we looking at unfunded liabilities and excess of $ 87 trillion, and yo unsustainabe trajectory of spending defkits and debt -- deficits and debt. they have climbed over course of two fiscal years, this is a serious business, and response to be, well, hell, let's just spend more money. is -- well i just don't understand why the republicans cannot mount a message that is compelling and persuasive to american people, i'll be dog gone, you are all operating on radio silence on the radio. >> well, i like to think we're not, i not -- mostly say host on television, do not think the way you do. and so i often say that as republicans we're always playing. lou: you didn't have to praise those other hosts on television. >> like we're always playing an away game, the crowd is cheering against us, just the way that mainstream media is. generally today, it hard to breakthrough, but it is reality, deal with battl battlefield as
to get rid of that one thing that is bringing the deficit down. lou: most economy fifth public fiscal policy since 1980, in a time when we looking at unfunded liabilities and excess of $ 87 trillion, and yo unsustainabe trajectory of spending defkits and debt -- deficits and debt. they have climbed over course of two fiscal years, this is a serious business, and response to be, well, hell, let's just spend more money. is -- well i just don't understand why the republicans cannot mount a message...
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. >> i thought we were in a deficit crisis. i thought our families were being put at risk by this massive debt. what does this do about that? >> past senators' bedtime when they were b lchleableary-eyed. >> like $4 trillion. >> some of those members, some of which we just saw, saying we want this to pass because we don't want taxes to go up, but we don't want to have to count for it. how does the whip count look? do we have enough votes to get this passed so i don't have to put my name on it? >> they've decoupled spending cuts from entitlement reform. the question is now are they going to have enough leverage to get what they want? >> i'm so glad i'm learning so much from you all this morning. speaker boehner released a statement in writing, in part, "now the focus turns to spending." and here's the question. "the american people re-elected a republican majority in the house, and we will use it in 2013 to hold" -- >> whatever. >> -- "to hold the president accountable for the balanced approach he promised." sam stein is with us
. >> i thought we were in a deficit crisis. i thought our families were being put at risk by this massive debt. what does this do about that? >> past senators' bedtime when they were b lchleableary-eyed. >> like $4 trillion. >> some of those members, some of which we just saw, saying we want this to pass because we don't want taxes to go up, but we don't want to have to count for it. how does the whip count look? do we have enough votes to get this passed so i don't have...
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Mar 12, 2013
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cutting the deficit is a self- defeating effort. it shrinks the economy, it hurts the long run, you end up in purely fiscal terms not helping much if at all. and it is devastating for employment. now is not the time to be cutting spending, cutting back. this is the time when the government should be spending more, not less. there are people who say we should be talking about this, we should be helping the economy but we should be talking about the long run. there's the question what they think is realistic and look at what has happened to washington for the past three years. that we have been at this. as soon as people started talking deficits instead of the economic crisis, that is -- took all the air from anything else. we barely had any political discussion of jobs. the issue of trying to do something about what is incredibly severe unemployment in america went out the window as soon as the focus turned to the deficit. people said, we should able to have a mature conversation where we talk about what we will do about the state of
cutting the deficit is a self- defeating effort. it shrinks the economy, it hurts the long run, you end up in purely fiscal terms not helping much if at all. and it is devastating for employment. now is not the time to be cutting spending, cutting back. this is the time when the government should be spending more, not less. there are people who say we should be talking about this, we should be helping the economy but we should be talking about the long run. there's the question what they think...
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Feb 13, 2013
02/13
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i'm wondering how that doesn't add to the deficit at all? jonathan, you're shaking your head. go ahead to attack it first. >> more, smoke and mirrors from the president, unfortunately melissa. as a results as all government force does in the destruction of wealth. the destruction of jobs. when government gets in the business of business, no good comes of it and say lights everyone's rights. the minimum wage is part of that. the president's new spending is part of that. and essentially results in the destruction of wealth. but obviously that is gameplan. to grow the economy by growing the size of government hasn't worked in last four years. won't work in the next four. melissa: christian you may love a lot of things he said, ultimately they cost money. like saying you can lose weight without diet and exercise. it just doesn't happen. how do you do it without costing money. >> one thing i took issue with the president said last night. this whole idea we are so hysterically focused on the deficit we don't do common sense things to grow our economy is completely ludicrous. he allu
i'm wondering how that doesn't add to the deficit at all? jonathan, you're shaking your head. go ahead to attack it first. >> more, smoke and mirrors from the president, unfortunately melissa. as a results as all government force does in the destruction of wealth. the destruction of jobs. when government gets in the business of business, no good comes of it and say lights everyone's rights. the minimum wage is part of that. the president's new spending is part of that. and essentially...
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Jan 9, 2013
01/13
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bringing this budget through to expose deficit spending, that is something that democrats will remind voters, but the idea that we are going to use the debt ceiling is scary. the senators said wouldn't it send a message to the american people. >> katie, i asked him about the failure of the senate to make the budget. why they haven't done it for 1350 days. if blake won't answer it, maybe you can. >> i think senator sessions was correct in saying if the democrats put forward a budget they will have to show the american people what they are spending their money on and it is not going to look pretty. it is either a slow march to death or a short march to death. and one thing that isn't talked about a whole lot with harry reid and his illegal moves not to introduce a budget for 1300 plus days is the fact that he has created financial crisises year after year after year. and the deficits that we see are direct responses to the senate producing a budget. >> down in texas, they reported if i'm not mistaken, they have strong economic growth and have lowered taxes and increased surplus. what is
bringing this budget through to expose deficit spending, that is something that democrats will remind voters, but the idea that we are going to use the debt ceiling is scary. the senators said wouldn't it send a message to the american people. >> katie, i asked him about the failure of the senate to make the budget. why they haven't done it for 1350 days. if blake won't answer it, maybe you can. >> i think senator sessions was correct in saying if the democrats put forward a budget...
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we haven't dealt with the deficit. >> we're not going to be able to effectively deal with the deficit until we deal with the jobs crisis. don't you think it would be much more prudent course to have people back to work, contributing to economic growth and then deal with our deficit? melissa: president obama has been in office for four years. now starting his fifth year. why do you think he hasn't dealt with the jobs problem then? >> it may have something to do with congress. he has jobs plan been put forth before congress. they haven't moved on it. melissa: and who exactly do you blame for that? because we just saw with this fiscal cliff deal republicans don't have any power. they don't have any influence. they can't get things done. all the democrats are in charge there. president obama is in charge. if you will blame people for not doing what you want over the past four years it has to be the democrats and the president? >> well i would think the house republicans could beg to differ with that. they seem to think they have a lot of power. melissa: no, they don't. i don't think a sin
we haven't dealt with the deficit. >> we're not going to be able to effectively deal with the deficit until we deal with the jobs crisis. don't you think it would be much more prudent course to have people back to work, contributing to economic growth and then deal with our deficit? melissa: president obama has been in office for four years. now starting his fifth year. why do you think he hasn't dealt with the jobs problem then? >> it may have something to do with congress. he has...
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Sep 19, 2013
09/13
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if we're going to continue on this spree of trillion deficits. it's going to be a good year, of course that sarcasm is bad. >> you know as well as i do that these bills have been passed. the costs haven about run up already. the bills have been signed by the president. what you're talking about is will you pay your debts or not. >> wait a second, chris. it's the same thing that governors have to do in the 50 states. if you have a legislature and they're wrong and the spending exceeds the revenue then you have pro ray shun. >> there's no danger here of the unit going into default. >> i'm not saying there's no danger. there is a risk to our economy. and i hope that the president will understand that there is a bigger picture here and that bigger picture is whether or not the united states of america is going to continue on this path to insolvency and bankruptcy. that is a much bigger threat. >> what does he have to do to avoid dough fault, the president? >> what the president has to do. okay. which default are you using? the jack lew's? >> i want t
if we're going to continue on this spree of trillion deficits. it's going to be a good year, of course that sarcasm is bad. >> you know as well as i do that these bills have been passed. the costs haven about run up already. the bills have been signed by the president. what you're talking about is will you pay your debts or not. >> wait a second, chris. it's the same thing that governors have to do in the 50 states. if you have a legislature and they're wrong and the spending...
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deficit control that congress will have to address as part of this. democrats and republicans, leaders in both parties acknowledge this bill doesn't go far enough for deficit reduction. this is going to start once the senate considers or house considers it. if the house pass this is bill tonight and the president signs it the next fight is on the debt ceiling and republicans will want spending cuts in exchange for increasing debt ceiling. treasury says we have $200 billion left of spending authority, deficit spending authority to go underneath the current debt ceiling. we technically already hit the current debt ceiling, but there are certain things we can do, wiggle room we can buy, it is unclear how much time that buys. in the past $200 billion, but this budget deal could change the way government spends and takes in and puts out money. so with that we'll wait for updated estimate from the treasury department. $200 billion is where it is right now. that is the next fight. and government spending will be a part of it. diane: does seem like as soon as
deficit control that congress will have to address as part of this. democrats and republicans, leaders in both parties acknowledge this bill doesn't go far enough for deficit reduction. this is going to start once the senate considers or house considers it. if the house pass this is bill tonight and the president signs it the next fight is on the debt ceiling and republicans will want spending cuts in exchange for increasing debt ceiling. treasury says we have $200 billion left of spending...
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Jan 11, 2013
01/13
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. >> el gobernador de california entrego el plan fiscal, por primera vez no hay deficit en los ultimos 5 años, quiere invertir en el seguro medico, pero que este año será disciplina fiscal. >> san francisco debera usar reservas para los programas publicos. >> esto es en ayuda aniños ancianos y discapacitados. >> si usted esta pensando en enviar la declaracion en las proxima semanas, pero ellos no lo empiezan a recibir hasta dentro de unas semanas. >> generalmente cuando uno empiezsa los taxes tempranos, pero en este caso toca esperar. >> el servicio de renta esperara a fines de eneros por los cambios tributarios, ahora hay que hacer ajustes para procesar todos los impuestos. >> tendran que esperar para el 30 de enero pero tendran que esperar hasta fines de marzo. >> las personas que pidan depresiacion van a estar hasta fines de febrero. >> se piden que no las envien ya que no sran procesadas. >> pueden hacerlo pero solo que someter va a ser un poco más retrasado. >> ella necesita el reembolso para visitar su tierra natal. >> el servicio de rtentas internas solicita que lo hagan el
. >> el gobernador de california entrego el plan fiscal, por primera vez no hay deficit en los ultimos 5 años, quiere invertir en el seguro medico, pero que este año será disciplina fiscal. >> san francisco debera usar reservas para los programas publicos. >> esto es en ayuda aniños ancianos y discapacitados. >> si usted esta pensando en enviar la declaracion en las proxima semanas, pero ellos no lo empiezan a recibir hasta dentro de unas semanas. >>...
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Mar 16, 2013
03/13
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CNNW
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but most of the kids who are getting treated for attention deficit disorder now don't need it. certainly the cosmetic use of these medications for performance enhancement makes no sense at all. >> does it put their heart -- it's essentially amphetamines which is a type of speed to put it in context for the audience. is it risky? >> it can cause anxiety, sleeplessness, weight loss. in some kids it causes cardiac problems. the long-term effects are largely unknown. in some kids it may provoke manic episodes. in others it could be a risk factor for substance dependence, but the medication can be remarkably useful when used well for someone who is carefully diagnosed. what's happening now though is many kids aren't carefully diagnosed and they are getting the medicine unnecessarily. >> along those lines, a little bit of history. in 1994 you were chairman of the group that wrote what's known as the dsm-4, the bible, the manual that determines the criteria for various types of disorders. since that manual came out, doctor, the diagnoses of adhd tripled. that feeds into the point that
but most of the kids who are getting treated for attention deficit disorder now don't need it. certainly the cosmetic use of these medications for performance enhancement makes no sense at all. >> does it put their heart -- it's essentially amphetamines which is a type of speed to put it in context for the audience. is it risky? >> it can cause anxiety, sleeplessness, weight loss. in some kids it causes cardiac problems. the long-term effects are largely unknown. in some kids it may...
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Jan 3, 2013
01/13
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. >>> deficit masquerade. let's play "hardball." ♪ >>> good evening. i'm michael smerconish in new york for chris matthews. leading off tonight, bait and switch. if you watch the follies of the fiscal cliff negotiation, you surely heard one thing, republicans want to cut the deficit. well, here is a headline for you. no, they don't. according to our first two guests tonight, republicans are hiding behind deficit cutting to mask their true goals, protecting the rich from tacks and shrinking the size of government. keep that in mind when the next self-imposed crisis comes calling in a couple months. also, the best news of the day, the 112th congress is history, and it made history in many ways. the least productive, most unpopular congress since people have been tracking this sort of thing. the 113th can't be worse, can it? >>> plus, speaker john boehner was shamed into scheduling a vote on hurricane sandy relief after being humiliated by fellow republicans. is it possible that the house didn't vote because a southern rural right wing republican party ju
. >>> deficit masquerade. let's play "hardball." ♪ >>> good evening. i'm michael smerconish in new york for chris matthews. leading off tonight, bait and switch. if you watch the follies of the fiscal cliff negotiation, you surely heard one thing, republicans want to cut the deficit. well, here is a headline for you. no, they don't. according to our first two guests tonight, republicans are hiding behind deficit cutting to mask their true goals, protecting the rich...
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Jan 1, 2013
01/13
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they know that we've got to make a down payment on deficit reduction. they know that we've got to protect the middle class and we've got to focus on -- let's -- what i haven't heard about in a couple of days are, our needs get back to the number one issues. creating jobs and getting this economy turned around. this is one of the first things that we have to do so we can move on aggressively towards that. >> bottom line, house republicans are meeting right now. they've just started a second meeting of the day. what do you anticipate will happen tonight? >> you know, i said earlier today, predicting what this group of republican and the house members will do is it certainly a challenge. i know that if -- from working with them as many years as i have, i know there are enough responsible republicans that there would be enough democrats and republicans that would pass that bill and send it to the president so we can prevent 98% of americans from having their tacks increased and we could get a handle on the deficit reduction problem. >> you think there's a d
they know that we've got to make a down payment on deficit reduction. they know that we've got to protect the middle class and we've got to focus on -- let's -- what i haven't heard about in a couple of days are, our needs get back to the number one issues. creating jobs and getting this economy turned around. this is one of the first things that we have to do so we can move on aggressively towards that. >> bottom line, house republicans are meeting right now. they've just started a...
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May 17, 2013
05/13
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paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted deficits since 2008 trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long term deficits is rising health care costs and -- get this -- between 2009 and 2011, total health spending grew at the lowest annual pace in t
paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted...
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Jun 21, 2013
06/13
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MSNBCW
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it's not about policy and it's not about the deficit. it's about paying a price to appease the deep fears of the republican base. fears that were so eloquently described yesterday on the lawn of the capitol. >> there are people who are coming here who want to come to cut your lawn and have a better life. but there are people who want to cut your throat. >> the cost of keeping people like that quiet is $30 billion. courtesy of the u.s. taxpayer. joining me is ezra klein. we have had this discussion about how everything about the immigration debate isn't about what people say it is. i want to start on the border fence and talk about poverty. i want to play this bit of senator corker admitting that the bill he proposed is overkill. take a listen. >> for people who are concerned about border security, once they see what is in this bill, it's almost overkill. >> who advertises the policy in washington that they are supporting as overkill, as doing more as spending too much money? that's the opposite of what we're supposed to get out of the ca
it's not about policy and it's not about the deficit. it's about paying a price to appease the deep fears of the republican base. fears that were so eloquently described yesterday on the lawn of the capitol. >> there are people who are coming here who want to come to cut your lawn and have a better life. but there are people who want to cut your throat. >> the cost of keeping people like that quiet is $30 billion. courtesy of the u.s. taxpayer. joining me is ezra klein. we have had...
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Jun 12, 2013
06/13
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budget deficit in may has grown by $139 billion. our annual deficit is on track to stay below 1 trillion for the first time since 2008. the congressional budget office estimates the annual deficit to hit 642 billion. moderate economic growth and higher tax rates are helping to lower our deficit, meanwhile government spending hass3 increased. also today, fallout ahead for bond investors as interest rates rise. is now the time to sell? joining me now, advice for your portfolio, author of you can never be too rich. so these are queasy times for bond investors. what are you telling your clients? >> there are definitely stars on the horizon. the big question is now weather and at interest rates are going to go up or not because they will. the question of when. no one knows that answer. that being said, there are definitely storms on the horizon. i am advising a lot of folks out there to get out of long-term and intermediate-term bonds. if you are in bond funds, really consider getting out of them and going to individual bonds. gerri: rea
budget deficit in may has grown by $139 billion. our annual deficit is on track to stay below 1 trillion for the first time since 2008. the congressional budget office estimates the annual deficit to hit 642 billion. moderate economic growth and higher tax rates are helping to lower our deficit, meanwhile government spending hass3 increased. also today, fallout ahead for bond investors as interest rates rise. is now the time to sell? joining me now, advice for your portfolio, author of you can...
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Oct 8, 2013
10/13
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CNBC
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the deficit is half what it was during the peak. we are spending less money this year than we spent in 2008. so there's been a lot of progress made and the idea that this is getting worse and wore worse and worse is borne out by the facts. >> speaker boehner said there will be no default. there's got to with middle ground somewhere. there's gog to be something done where either they have the continuing resolution passed, the debt ceiling raised or somethingless has to happen. what is that something else that ee going to happen that will keep us from defaulgt on our national debt? >> a simple conversation between the two sides that sees things differently. right now that's the only thing that's missing. we invite harry reid. our appointees have been sitting at the table now for over a week waiting for senate negotiators to show up and they have not yet shown up. >> and they have said they will not do that until there's a continuing resolution and a debt ceiling bill passed in the house but you're saying that's not going happen until
the deficit is half what it was during the peak. we are spending less money this year than we spent in 2008. so there's been a lot of progress made and the idea that this is getting worse and wore worse and worse is borne out by the facts. >> speaker boehner said there will be no default. there's got to with middle ground somewhere. there's gog to be something done where either they have the continuing resolution passed, the debt ceiling raised or somethingless has to happen. what is that...
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Oct 14, 2013
10/13
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the problem is not that our deficits are going up. our deficits have been cut in half since i came into office and are continuing to go down. the problem is not that there's not the opportunity for us to work intelligently to come up with a budget while investing in stability and growth, the problem is we've seen this brinksmanship as a strategy time and time again to try to extract extreme or partisan concessions. and i think the american people have made very clear that's not how we expect washington to do business. there are going to be differences between the problems. there's differences in terms of budget priorities. we don't need to inflict pain on the american people or risk the possibility that america's full faith and credit is damaged just because one side is not getting its way. not only is it untenable to continue the shutdown next week if we don't start making real progress in the house and the senate and if republicans aren't willing to set aside some of their partisan concerns in order to do what's right for the countr
the problem is not that our deficits are going up. our deficits have been cut in half since i came into office and are continuing to go down. the problem is not that there's not the opportunity for us to work intelligently to come up with a budget while investing in stability and growth, the problem is we've seen this brinksmanship as a strategy time and time again to try to extract extreme or partisan concessions. and i think the american people have made very clear that's not how we expect...
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Aug 18, 2013
08/13
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FBC
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you don't like big government spending but the deficit doesn't scare you. but the taxpayers pay for the interesten the deficit. >> rather than pay interest on the government discovering new programs. being back to rick's point, would you prefer genentech and pfizer or merck discover cure for cancer or the government? >> go ahead, rick. >> what i prefer is whatever gets the job done. ask genentech -- let me finish. you asked me the question. ask genentech how much of what they accomplished has been with the assistance of the government funds. >> david: emac. >> in social economies you don't see the major american brands like we have there, the soft economic power. you don't see it in china or socialist countries. there is a reason for that, because of the private sectotor. >> david: that is the last word. coming up, kistone pipeline project like this going to become endangered suspicious? what a new report says about the pipeline that could shut the protesters down and stop the president from saying things like this. >> they keep talking about an oil pipelin
you don't like big government spending but the deficit doesn't scare you. but the taxpayers pay for the interesten the deficit. >> rather than pay interest on the government discovering new programs. being back to rick's point, would you prefer genentech and pfizer or merck discover cure for cancer or the government? >> go ahead, rick. >> what i prefer is whatever gets the job done. ask genentech -- let me finish. you asked me the question. ask genentech how much of what they...
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Sep 7, 2013
09/13
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FOXNEWSW
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but we don't have an urgent deficit crisis. the only crisis we have is one that's manufactured in washington and it is ideological. >> we don't have an urgent deficit crisis. how many agree with that? 16.7 trillion in debt, $90 trillion in unfunded liabilities, and guess who is going to pay it all off. liz, let's talk to you. >> i'm really disappointed in the president, especially on the issue of obamacare. he said that it would decrease costs and actually, uva this year, my school this past week they came out and said that actually next year they'll have to cut $7.3 million from the uva health insurance plan because of the increased costs that come with implementing obamacare. so i'm pretty outraged that this thing that the president and congress promised would be beneficial to americans and help to decrease health care costs, are actually increasing it. and the burden of this huge debt will be on our generation. >> a democrat, notre dame. how did you ever get to notre dame? >> i worked really hard in high school. and they acc
but we don't have an urgent deficit crisis. the only crisis we have is one that's manufactured in washington and it is ideological. >> we don't have an urgent deficit crisis. how many agree with that? 16.7 trillion in debt, $90 trillion in unfunded liabilities, and guess who is going to pay it all off. liz, let's talk to you. >> i'm really disappointed in the president, especially on the issue of obamacare. he said that it would decrease costs and actually, uva this year, my school...
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Oct 25, 2013
10/13
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FBC
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deficits are so much bigger than the deficits he complained about under president george w. bush. >> going from 1 trillion to around 700 billion, thing that i guess i could stop and diet now. >> if you imagine it taking on this, it's still sinking in and this is the debt that is accumulating. every time you add the chili in dollars or whatever the number is an annual deficit, you're adding to the national debt, and we keep piling on to the total amount of debt that we owe so the long-term crisis is real and they have said that the trajectory we are on is unsustainable in the debt levels are highly unusual for a postwar period, we are on track to have about 70% of debt to gdp and you just can't keep that up. you can't keep doing that. >> a lot of folks argue that you can grow your way out of it. another internet type of boom, you needn't worry, you say don't be so foolish. >> growth helps, but them probld it is entitlement spending over the next decade or two is the primary cause of the growing debt and that is not going to be something we can grow way out of this unlike the
deficits are so much bigger than the deficits he complained about under president george w. bush. >> going from 1 trillion to around 700 billion, thing that i guess i could stop and diet now. >> if you imagine it taking on this, it's still sinking in and this is the debt that is accumulating. every time you add the chili in dollars or whatever the number is an annual deficit, you're adding to the national debt, and we keep piling on to the total amount of debt that we owe so the...
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Dec 28, 2013
12/13
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FBC
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we have no real deficit cuts. the tea party, for all of their problems, they're right about one thing, american people are as mad as hell. >> mad as hell, but seemingly passive as hell. i can't a time when the issues were bigger, working men and women in this country were in greater jeopardy as a result of the policies of both parties. i'm talking about the outsourcing of jobs. >> absolutely. >> i mean, you go through the list. it's disgusting. and here we are. we'll continue this. it's great to see you, pat. thanks for being here. brad, thank you, sir. michael, good to have you lou: up next, the new book stigma like at this stunning reasons our present system is so expensive than incredibly provides perks and punishes you. we're coming right back. ♪ [ male announcer ] here's auestion for you: where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of america's energy comes from right here at home. take the energy quiz. energy li
we have no real deficit cuts. the tea party, for all of their problems, they're right about one thing, american people are as mad as hell. >> mad as hell, but seemingly passive as hell. i can't a time when the issues were bigger, working men and women in this country were in greater jeopardy as a result of the policies of both parties. i'm talking about the outsourcing of jobs. >> absolutely. >> i mean, you go through the list. it's disgusting. and here we are. we'll continue...
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Jun 19, 2013
06/13
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as the $200 billion reduction in deficits over ten years. i think that is a narrow way to think about this. woody to evaluate something that is good or bad for america by how well the government does. melissa: we are crunching the numbers. >> and i agree with that. melissa: it is a much bigger the session, but we're just looking at the economic benefit in this particular segment. i totally appreciate the idea that it is more. >> the economic benefit to -- the other money piece, the private sector money. so an economy that is bigger, but thousand dollars for every man, woman, and child in america. that is important as well. melissa: so, the 10 million workers coming in, would they displace current workers? i have my list of all the questions on twitter and everywhere else in 1901 to miss them. we displacing current workers? 2 million people coming into the country hungry, eager to work. it seems like they're going to rather than beaten million more workers at hampton million new jobs we don't really have those jobs open right now. are they go
as the $200 billion reduction in deficits over ten years. i think that is a narrow way to think about this. woody to evaluate something that is good or bad for america by how well the government does. melissa: we are crunching the numbers. >> and i agree with that. melissa: it is a much bigger the session, but we're just looking at the economic benefit in this particular segment. i totally appreciate the idea that it is more. >> the economic benefit to -- the other money piece, the...
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Jan 15, 2013
01/13
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the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of view. the president yesterday talked about having balance had a thing for us democrats, that's the key. there has to be a mixture of spending cut and further revenue. and we need that balance for three reasons. number one, in order to promote economic growth. in my judgment, it followed that comes from cuts in programs, and i will accelerate economic growth. the second reason relates to income inequality. there has been a startling change in the last 20 years really. the middle-class has essentially been stagnant in the figure really is in 2010, 93% of income growth w
the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of...